Investor Presentation Q1 FY18 1 Contents Q1 FY18 Highlights - - PowerPoint PPT Presentation

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Investor Presentation – Q1 FY18

Happinest - Boisar

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Contents

▪ Q1 FY18 Highlights ▪ Residential Business Update ▪ Integrated Cities & Industrial Clusters Update ▪ Financial Update

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Q1 FY18 Highlights

The operating highlights from Slide 4 to Slide 19 are for the Company and its subsidiaries /joint ventures/associates engaged in the real estate business (MLDL, MITL, MRDL, MHPL, MBDL, MWCDL, MWCJL, ICPL & MIPCL)

Disclaimer : The Company is currently in the process of registering its ongoing projects in the applicable jurisdictions / States under the Real Estate (Regulation and Development) Act, 2016 (“RERA”) and wherever the Rules under RERA have been notified by the respective States in which the Company has projects. None of the images, material, projections, details, descriptions, area statements and other information that are mentioned herein should be deemed to be or constitute advertisements, solicitations, marketing, offer for sale, invitation to

• ffer, invitation to acquire, including within the purview of the RERA.

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Key Highlights – Q1 FY18

New Launches ▪ Launched subsequent phases in 2 projects – Antheia in Pune and Happinest Avadi in Chennai Revenue Recognition ▪ Achieved revenue recognition in a phase each of Antheia & Happinest Avadi Regulatory Updates ▪ GST implementation on track ▪ RERA notified in all states we operate except Haryana & Telangana– Registration underway for ongoing projects Project Completion ▪ Completed a phase in Happinest Boisar Integrated Cities & Industrial Clusters ▪ Signed 1 new customer at MWC Jaipur ( 5.96 Acres in SEZ area) ▪ Signed 1 new customer at MWC Chennai (4.15 Acres in DTA ) Awards & Accolades ▪ Received the Golden Peacock Environment Management Award’ (GPEMA) for sustainable urban development across India. Fund Raising ▪ Successfully raised Rs. 300 Crs through Rights Issue in May 2017

5

Residential Business Update

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Performance Highlights – Residential Sales

Launches

158 168 61 150 138

256 206 138 263 255 0.26 0.25 0.12 0.28 0.27 0.00 0.05 0.10 0.15 0.20 0.25 0.30 20 70 120 170 220 270 320 Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18 Sales Value (Rs Crs) Units Sold Saleable Area (mn sqm) Bloomdale IIIC-2 Antheia IIIA Boisar III Bloomdale IIIB Bloomdale IIID Aqualily 2E Antheia IIIB Avadi - III

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Performance Highlights

67 83 83 103 62 Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Construction Spend (Rs. Cr)

163 151 175 171 128 Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Customer Collections (Rs. Cr)

16% 26% 7% 9% 8% 26% 8%

Q1 FY18 City-wise Sales (Value)

MMR Pune Nagpur NCR Hyderabad Chennai Bangalore 10% 22% 9% 7% 9% 38% 5%

Q1 FY18 City Wise Sales (Volume)

MMR Pune Nagpur NCR Hyderabad Chennai Bangalore

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Project Portfolio

Areas in Mn Sft Ongoing Forthcoming Land Inventory Location Saleable area2 Saleable area2 Saleable area2 MMR** 0.31 1.77 0.941 Pune 0.82 0.85 Chennai 0.42 1.41 9.50 Nagpur 0.78 0.35 NCR* 0.78 0.33 Nasik 0.60 Bengaluru 0.44 0.43 Total 3.56 5.14 11.04

* NCR includes Delhi, Gurgaon and Faridabad; ** MMR includes Mumbai, Boisar, Palghar, Thane and Alibaug; *** does not include select projects that were completed by GESCO. Note1: Estimated saleable area of 0.59 mn sft at Thane has an impediment. The matter has been taken up with concerned authorities for removal of the impediment Note 2 : Based on saleable area including JD partner’s share wherever applicable

Total Completed Development – 14.06*** mn sft

The Real Estate Regulation Act (RERA) has been notified in some of the states where the company has its projects. The company is in the process of getting the registrations done with RERA authority. The carpet areas as per RERA shall be updated in due course. Data has been presented in saleable area terms to enable continuity of information to investors and shall not be construed to be of any relevance to the home buyers / customers.

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Summary of Ongoing and Forthcoming Projects

Note: Above figures are based on saleable area including JD partner’s share wherever applicable #: project under Joint Development (JD) * Construction work on site is currently on hold due to dispute raised by the contractor which is presently subjudice

Region Project Name Company / SPV Total Development Launched Development Completed Development Ongoing Development Balance (to be launched)

A B C D E (= A-C-D) MMR Serenes MLDL 0.16 0.06

• 0.06

0.09 Happinest Boisar MLDL 0.50 0.42 0.33 0.09 0.08 Vivante MLDL 0.16 0.16

• 0.16
• Andheri

MLDL 0.23

• 0.23

Sakinaka MLDL 0.34

• 0.34

Kandivali MLDL 0.14

• 0.14

Happinest Palghar ( I&II ) MLDL 0.89

• 0.89

Pune Antheia MLDL 1.63 1.34 0.52 0.82 0.29 Pimpri Resi (New) MLDL 0.56

• 0.56

Nagpur Bloomdale * MBDL 1.53 1.19 0.41 0.78 0.35 NCR Luminaire# MHPL 1.11 0.78

• 0.78

0.33 Bengaluru Windchimes MHPL 0.87 0.44

• 0.44

0.43 Chennai Aqualily MRDL 1.59 1.51 1.23 0.28 0.08 Happinest Avadi MLDL 0.73 0.47 0.32 0.15 0.26 Chennai MITL 1.07

• 1.07

Total 11.51 6.37 2.81 3.56 5.14

All figures in million square feet (msft)

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Summary of Ongoing Projects

Note: 1 - Based on saleable area including JD partner’s share wherever applicable 2 - Completion shown is on Total Estimated Project Cost which is equal to land + construction related costs

msft = million square feet

Location Project Name Development Potential 1 (msft) Area Sold (msft) % completion2 Sales Value (Rs Cr) Revenue Recognised (Rs Cr) MMR The Serenes, Ph I 0.06 0.03 63% 22.0 14.0 Happinest Boisar Ph III 0.09 0.06 69% 19.0 13.0 Vivante Phase I 0.16 0.15 73% 254.0 189.0 Pune Antheia Ph II A 0.16 0.15 87% 92.0 80.0 Antheia Ph II B 0.12 0.10 85% 64.0 55.0 Antheia Ph II C 0.14 0.07 81% 46.0 37.0 Antheia Ph II D 0.13 0.08 80% 51.0 41.0 Antheia Ph IIIA 0.16 0.09 74% 59.0 44.0 Antheia Ph IIIB 0.12 0.04 60% 22.0 13.0 Nagpur Bloomdale IIA 0.11 0.11 88% 38.0 33.0 Bloomdale IIB 0.15 0.15 67% 55.0 37.0 Bloomdale IIB – 2 0.09 0.07 72% 29.0 21.0 Bloomdale IIC 0.07 0.06 75% 23.0 18.0 Bloomdale IIIA 0.12 0.08 61% 34.0 21.0 Bloomdale IIIB 0.11 0.03 33% 11.0

• Bloomdale IIIC-1

0.03 0.03 68% 11.0 7.5 Bloomdale IIIC-2 0.04 0.00 33% 2.0

• Bloomdale IIID

0.07 0.01 35% 3.0

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Summary of Ongoing Projects

Location Project Name Development Potential 1 (msft) Area Sold (msft) % completion2 Sales Value (Rs Cr) Revenue Recognised (Rs Cr) NCR Luminare I # 0.37 0.21 60% 288 172 Luminare II # 0.41 0.11 47% 147 69 Chennai Aqualily Apts C2 0.16 0.00 49%

• Aqualily Apts 2E

0.12 0.02 24% 10 2 Happinest Avadi IIA-1 0.10 0.02 51% 8 4 Happinest Avadi III 0.04 0.01 50% 2

• Bengaluru

Windchimes I –Tower I 0.18 0.13 68% 101 67 Windchimes I –Tower II 0.26 0.17 73% 131 90 Total 3.56 1.97 63% 1522 1027

Note: 1 - Based on saleable area including JD partner’s share wherever applicable 2 - Completion shown is on Total Estimated Project Cost which is equal to land + construction related costs # - Joint Development

msft = million square feet

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Projects Snapshot

Antheia C1 (Jun‘17) L’Artista (Jun‘17) Vivante B1B2 (Jun’17) Antheia Club House (Jun’17)

Bloomdale IIA ( June’17)

The Serenes (Jun’17)

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Luminare Phase II (Jun’ 17)

Happinest Boisar -Cluster 1 (June‘17)

Aqualily 2E – E2 (June’17) Windchimes I -Tower II (Jun’17) Windchimes I – Tower I (Jun’17) Happinest Avadi – H Block (Jun‘17)

Projects Snapshot

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Forthcoming Projects

#Joint Development

*Based on saleable area including JD partner’s share wherever applicable

Category Location Name of the Project Est. Saleable Area* mn sq ft New Phases of Existing Projects Existing Projects New Phases Pune Antheia - subsequent phases 0.29 Mumbai The Serenes, Alibaug – subsequent phases 0.09 Happinest Boisar – subsequent phases 0.08 Chennai Aqualily - subsequent phases 0.08 Happinest Avadi – subsequent phases 0.26 NCR Luminare – subsequent phases # 0.33 Nagpur Bloomdale - subsequent phases 0.35 Bengaluru Windchimes – subsequent phases 0.43 TOTAL - New Phases of Existing Projects 1.91 New Projects Mid & Premium Residential Mumbai Andheri – Plot A 0.23 Sakinaka# 0.34 Kandivali 0.14 Pune Pimpri Residential (New) 0.56 Chennai MWCC Residential 1.07 Affordable Housing Mumbai Palghar ( I & II) 0.89 TOTAL - New Projects 3.23 TOTAL - Forthcoming Projects 5.14

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Location Project Name Company MLDL Holding Balance units to sell MMR Happinest Boisar MLDL 100% 30 Pune Antheia I MLDL 100% 2 Lärtista MLDL 100% 16 NCR Aura V MLDL 100% 1 Hyderabad Ashvita # MLDL 100% 90 Chennai Aqualily Villas C&D MRDL 96% 3 Aqualily Apts A,B& II- C1 MRDL 96% 80 Iris Court II, IIIA & B MITL 96% 9 Nova II MITL 96% 87 OVERALL 318

Balance Inventory in Completed Projects

# Joint Development

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Integrated Cities & Industrial Clusters Update

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Mahindra World City, Chennai – Business Update

American Axle facility, DTA Parker Hannifin facility, DTA

425 422 294 425 387 264

SEZ DTA Resi & Social* Total Leasable Area (in acres) Leased Area (in acres)

3.1 2.7 3.7 3.7 3.3 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 FY13 FY14 FY15 FY16# FY17

Average Price Per Acre (Rs. Cr)

Total Area Procured – 1524 acres | Leasable Area – 1141 acres

Note: 1) 1US$ = 65 INR # no lease of land in Chennai in F16, hence price indicated of F15

• Total number of Customers: 65 (52

Operational)

• Signed 1 new customer during Q1 FY18 for

area of 4.15 acre ✓

Land Leased to CG for built to suit development for end user NCR corporation

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Mahindra World City, Jaipur – Business Update

Infosys facility in IT SEZ

Total Area Procured – 2913 acres | Leasable Area – 2033 acres

1026 695 312 372 328 30

SEZ*** DTA Resi & Social ** Total Leasable Area (in acres) Leased Area (in acres)

** Residential and Social total saleable area is assumed at yield of 70% at MWCJ and has not been launched, 1 deal of 30 acres concluded with skill university; *** Includes 25 acres for Evolve

JCB facility in DTA 1.2 1.4 1.8 1.7 2.0 0.0 0.5 1.0 1.5 2.0 2.5 FY13 FY14 FY15 FY16 FY17

Average Price Per Acre (Rs Cr)

Note: 1) 1US$ = 65 INR

• Total number of Customers: 76 (45 Operational)
• Signed 1 new customers during Q1 FY18
• Global Stones Pvt Ltd acquired 5.97 acres in

the SEZ.

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Recurring Rental Income

Canopy, Mahindra World City Chennai Evolve, Mahindra World City Jaipur Evolve, Mahindra World City Jaipur

Evolve, MWCJ

Total area 0.43 msft Area leased 0.41 msft

Canopy, MWCC

Total area 0.05 msft Area leased 0.05 msft

Mahindra Towers, Delhi

Total area 0.06 msft Area leased 0.06 msft

22 20 20 20 21

0.00 5.00 10.00 15.00 20.00 25.00 Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Quarterly Recurring Income (in Rs.cr)

Evolve, MWCJ Canopy, MWCC Mahindra Towers, NCR Park O&M and water charges, MWCC Park O&M and water charges, MWCJ

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Financial Update

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Financial Snapshot – MLDL CONSOLIDATED IND AS

Statement of Profit and Loss

All figures in Rs crore

Q1 2018 Q4 2017 Q1 2017 FY 2017 Income Income from Operations 136 327 97 762 Other Income 13 15 19 69 149 342 116 831 Expenditure Operating Expenses 92 286 56 589 Employee Remuneration & Benefits 17 18 15 68 Administration & Other Expenses 11 17 10 55 Interest & Finance charges 8 4 6 20 Depreciation & Amortisation 1 1 1 5 129 327 90 737 Profit from Ordinary Activities before Tax /Share in Net Profit/Loss of Associates 20 16 26 94 Share in Net Profit/(Loss) of Associates 2 12

• 1

45 Profit from Ordinary Activities before Tax 21 28 25 139 Less : Provision for Current Taxation 7 5 7 29 Less : Provision for Deferred Taxation 4 1 4 Net Profit for the period 14 19 18 106 Less: Minority Interest 1 2 4 Net Profit/ (Loss) after Taxes, Minority Interest and Share of Profit / (Loss) of Associates 14 17 17 102

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Financial Snapshot – MLDL CONSOLIDATED IND AS

Balance Sheet

All figures in Rs crore EQUITY & LIABILITIES Jun-17 Mar-17 Equity : Equity Share capital 51 41 Other Equity 1,962 1,659 Networth 2,013 1,700 Non Controlling Interest 43 43 Non Current Liabilities Financial Liabilities (i) Borrowings 75 275 (ii) Other financial liabilities 35 55 Provisions 2 2 Deferred tax liabilities (Net) 60 60 172 392 Current Liabilities Financial Liabilities (i) Borrowings 173 202 (ii) Trade payables 263 257 (iii) Other financial liabilities 293 291 Provisions 10 10 Current Tax Liabilities (Net) 1 1 Other current liabilities 47 45 788 805 TOTAL 3,016 2,941

ASSETS Jun-17 Mar-17 Property, Plant and Equipment 9 10 Capital work-in-progress 8 8 Investment Property 23 23 Goodwill 66 66 Other Intangible assets 1 1 Financial Assets (i) Investments 598 597 (ii) Trade receivables 19 22 (ii) Loans 16 16 (iii) Others Deferred tax assets (net) 22 23 Non Current Tax Assets 18 20 Total Non Current Assets 782 786 Inventories 1,135 1,171 Financial Assets (i) Investments 147 146 (ii) Trade receivables 127 76 (iii) Cash and cash equivalents 99 75 (iv) Bank balances 14 9 (iv) Loans 299 273 (v) Others 141 126 Current Tax Assets (Net)

• Other current assets

271 279 Total Current Assets 2,234 2,155 TOTAL 3,016 2,941

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Key Highlights

116 145 228 343 149

50 100 150 200 250 300 350 400

Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Total Income (Rs. Cr)* 14 27 36 18 18 14% 22% 17% 6% 13% 5 10 15 20 25 30 35 40

Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

0% 5% 10% 15% 20% 25% EBITDA (Rs. Cr)* and EBIDTA Margin

97 126 213 327 136 Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Operating Income (Rs. Cr)*

* All data on consolidated basis * Note: In compliance with the Ministry of Corporate Affairs (MCA) notification dated February 16, 2015, announcing the Companies (Indian Accounting Standards), the Company has adopted IND AS with effect from April 1, 2016. All the data above has not been audited or reviewed and has been presented based on the information compiled by the management after making the necessary adjustments to give a true and fair view of the results in accordance with IND AS.

17 32 35 17 14 15% 22% 15% 5% 9%

• 5

10 15 20 25 30 35 40

Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

0% 5% 10% 15% 20% 25% 30% PAT (Rs. Cr)* and PAT Margin

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Key Highlights

0.38 0.40 0.38 0.38 0.20

0.2 0.4 0.6

Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Gross Debt Equity Ratio*

10.09% 9.89% 9.94% 9.86% 9.52%

9% 9% 10% 10% 10% 10%

Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Interest Rate*

* All data on consolidated basis. Interest rate has been calculated on loans taken from third parties

Note: In compliance with the Ministry of Corporate Affairs (MCA) notification dated February 16, 2015, announcing the Companies (Indian Accounting Standards), the Company has adopted IND AS with effect from April 1, 2016. Data above has not been audited or reviewed and has been presented based on the information compiled by the management after making the necessary adjustments to give a true and fair view of the results in accordance with IND AS.

0.30 0.27 0.23 0.24 0.09

• 0.20

0.40

Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18

Net Debt Equity Ratio*

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Residential and IC&IC Business’ performance highlights for Q1 FY18

Particulars Residential IC & IC Sales / Lease Income 144 20 Total Income 159 39 EBIDTA 18 16 EBIDTA Margin (%) 11% 42% PAT 13 0.7 PAT Margin (%) 8% 2%

Note: Above numbers are provided for better understanding of the performance of residential and Industrial Cluster business of the

• Company. Figures above are not audited and are based on working done by management. Due care has been taken in compilation of

the same by Management.

All figures in Rs Crore unless specified

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Summary of Key Financials by legal entities for Q1FY18

Note: All numbers are for respective SPV’s on standalone basis and are aggregated without considering any inter-company eliminations ^ : the entities are classified as JVs and are not consolidated in MLDL consolidation. # : in MHPL, debt numbers includes ~ 650 cr of contribution by promoters in the form of OCDs and CCDs *: in ICPL, debt number represents promoter contribution in the form of OCDs

Entity Name Economic Interest Total Income EBIDTA PAT Debt Net Worth MLDL 100.00% 123.8 11.6 10.7 358.3 1,802.8 MHPL^ 50.00% 42.3 9.4 7.2

#842.4

16.6 MBDL^ 70.00% 3.2

• 2.6
• 1.5

36.8 13.8 MITL 96.30% 13.6 3.0 1.5 85.7 94.6 MRDL 96.30% 12.0 0.9 0.8 1.8 90.9 Entity Name Economic Interest Total Income EBIDTA PAT Debt Net Worth MWCDL^ 89.00% 19.5 11.5 0.4 402.3 122.6 MWCJL^ 74.00% 19.8 11.6 1.2 315.0 261.3 MIPCL^ 53.40%

• 0.3
• 1.3

41.5 174.3 ICPL 100%

• *92.2

0.02

Key Legal Entities in Residential Business Key Legal Entities in IC & IC Business

All figures in Rs crore

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Annexures

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Structure Overview

Note: Overview includes asset owning SPVs only. Numbers are rounded to the nearest percentage.

75% 25%

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DTA Domestic Tariff Area GAAP Generally Accepted Accounting Principles ICPL Industrial Cluster Private Limited IC&IC Integrated Cities and Industrial Cluster MBDL Mahindra Bebanco Developers Limited MHPL Mahindra Homes Private Limited MIPCL Mahindra Industrial Park Chennai Limited MITL Mahindra Integrated Township Limited MLDL Mahindra Lifespace Developers Limited MRDL Mahindra Residential Developers Limited MWC Mahindra World City MWCDL Mahindra World City Developers Limited MWCJL Mahindra World City (Jaipur) Limited NCR National Capital Region RIICO Rajasthan State Industrial Development & Investment Corporation Limited SCM SCM Real Estate (Singapore), the investment arm of Standard Chartered Bank SEZ Special Economic Zone TIDCO Tamil Nadu Industrial Development Corporation Limited

Glossary

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Investor Relations Contact

Sumit Kasat General Manager – Finance and Investor Relations Mahindra Lifespace Developers Limited 5th Floor, Mahindra Towers Worli, Mumbai - 400 018 Phone : +91-22-67478645 Email: kasat.sumit@mahindra.com

www.mahindralifespaces.com | www.mahindraworldcity.com | www.happinest.co.in Investor Relations Contact

Jayantt Manmadkar Chief Financial Officer Mahindra Lifespace Developers Limited 5th Floor, Mahindra Towers Worli, Mumbai - 400 018 Phone : +91-22-67478660 Email: manmadkar.jayantt@mahindra.com

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Disclaimer

▪

This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Developers Limited

▪

In preparing this note, we have relied upon and assumed, without any independent verification, the accuracy and completeness of all information available from public sources

• r which was otherwise reviewed by us.

▪

This note contains certain assumptions, which Mahindra Lifespace Developers Limited considers reasonable at this time and our views as of this date and are accordingly subject to change. Computations adopted in this note are indicative and are based on current prevailing market prices and general market sentiment. No representation or warranty is given by Mahindra Lifespace Developers Limited as to the achievement or reasonableness

• r completeness of any idea and/or assumptions.

▪

This note does not purport to contain all the information that the recipient may require. Recipients should not construe any of the contents herein as advice relating to business, financial, legal, taxation, or investment matters and are advised to consult their own business, financial, legal, taxation and other advisors concerning the company.

▪

This note does not constitute an offer for sale, or an invitation to subscribe for, or purchase equity shares or other assets or securities of the company and the information contained herein shall not form the basis of any contract. It is also not meant to be or to constitute any

• ffer for any transaction.

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Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 5th Floor, Mahindra Towers, Worli, Mumbai - 400 018 Tel: 022 6747 8600/ 6747 8601| Fax: 022 2497 5084 Website: www.mahindralifespaces.com

Thank You